Panel pulls up govt. for diverting coal cess

Panel pulls up govt. for diverting coal cess

The 42nd standing committee on energy in its report on stressed gas-based power plants tabled in Parliament earlier this month has pulled up the government for diverting coal cess to compensate States for revenue loss post-GST, and recommended financial support to the stressed gas-based power projects in the country from National Clean Energy Fund (NCEF).

The NCEF was created out of cess on coal at ₹400 per tonne to provide financial support to clean energy initiatives and an Inter Ministerial Group chaired by the Finance Secretary was constituted to approve the project/schemes eligible for financing under NCEF.

The coal cess collected from 2010-11 to 2017-18 amounts to ₹86,440.21 crore, out of which only ₹29,645.29 crore has actually been transferred to the NCEF.  Read More

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